Ripple Price Prediction: XRP/USD Range-Bounds Around the Support of $0.46

XRP Price Prediction – March 10

XRP/USD bulls couldn’t break above the moving averages as the price got rejected from several potential resistance levels.

XRP/USD Market

Key Levels:

Resistance levels: $0.60, $0.65, $0.70

Support levels: $0.35, $0.30, $0.25

XRPUSD – Daily Chart

According to the daily chart, XRP/USD is seen following a sideways movement. The 9-day moving average has been acting as support even though the price has not been able to climb above it several times. However, should in case the bulls want to see a shift in momentum, they will need to hold the price above the moving averages, convert both into support levels and continue trading upwards until they create a bull cross.

What to Expect from Ripple (XRP)

Ripple (XRP) is currently trading at $0.46 and any attempt below the lower boundary of the channel could open the door to drop further and the price could fall below the channel. Moreover, the market may experience a quick-buy as soon as the market price moves above the moving averages.  However, traders need to keep an eye on the $0.55 before moving upwards while the resistance levels lie at $0.60, $0.65, and $0.70.

On the other hand, if the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to test $0.35 and could further drop to $0.30 and $0.25 support levels respectively. The RSI (14) is seen following the downside; XRP/USD may follow a bearish trend.

When compares with Bitcoin, the situation is becoming bleak as the market trades below the 9-day and 21-day moving averages. The XRP/BTC has not been able to break above 9-day MA. The market opens today with a downtrend where it touches the daily low of 815 SAT.

XRPBTC – Daily Chart

However, looking at the daily chart, bears may continue to control the market and could bring the price back below the lower boundary of the channel at the nearest support levels at 650 SAT and below. Meanwhile, the RSI (14) may remain on the negative side, which indicates that the bearish movement may continue to play out.

Remember, all trading carries risk. Past performance is no guarantee of future results.

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.